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Wells Fargo: Macau gaming strength to continue in November

  • Based on trends in the front end of the month, Wells Fargo analyst Cameron McKnight sees Macau gaming revenue growth of 19%-21% Y/Y in Nov. He expects "ADR to remain strong following the end of China Communist Party Third Plenum meetings."
  • Casino stocks with operations in Macau that stand to benefit include Melco Crown (MPEL +0.9%), Las Vegas Sands (LVS +0.8%), Wynn Resorts (WYNN +0.7%), MGM Resorts (MGM +0.7%), Galaxy Entertainment (GXYEF +0.5%), and SJM Holdings (SJMHF -2.1%).
  • Previous: October record month for Macau casinos
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